NEW DELHI: Indian Prime Minister Narendra Modi has launched a 60-billion-rupee ($842 million) plan to tackle water shortages in the country’s seven heartland states where agriculture is a mainstay. India, the world’s second-most populous country, faces the worst long-term water crisis in its history as demand outstrips supply, threatening farm output and overall economic growth in…
CHENGDU: China made overtures on trade to Japan and South Korea and offered support for an infrastructure initiative as it hosted the leaders of its two neighbors this week amid strained ties with the US. Chinese Premier Li Keqiang said on Wednesday at a meeting with Japanese Prime Minister Shinzo Abe that Beijing was willing…
ABIDJAN: A decade after rubber was heavily promoted as a goldmine for Ivory Coast’s cocoa-dependent economy, planters are under pressure to address criticism that they are damaging the environment and weakening the country’s ability to feed itself. “Well-managed rubber production is an asset,” said Eugene Kremien, the president of the Association of Professionals of Natural Rubber…
CHICAGO: As Boeing’s new boss tackles the immediate crisis over its grounded 737 MAX jet, he also faces pressing questions from European regulators over a deal to buy the commercial arm of Brazil’s Embraer — seen as key to its longer-term strategy. European Union regulators investigating the $4.2 billion tie-up have asked for more than 1.5…
DAKAR: Plans to overhaul the CFA franc, a France-backed currency used by former colonies in West Africa, have drawn reactions ranging from skepticism to cautious optimism. Some experts in the region questioned whether the change amounts to much but others thought it a step forward, although vital issues remain to be tackled. Introduced in 1945 during…
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JEDDAH: Mawani, the Saudi Ports Authority, has signed concession contracts with global port operator DP World and regional port operator the Red Sea Gateway Terminal (RSGT) to develop and operate container terminals and use Jeddah Islamic Port as a regional hub for transshipment. In its announcement on Monday at the signing ceremony held in Jeddah, Mawani…
KUWAIT CITY: Saudi Arabia and Kuwait will sign a deal on Tuesday to resume production at two major oilfields in a shared neutral zone after five years of stoppage.The Kuwait Gulf Oil Company (KGOC) said on Monday the signing ceremony will take place in the neutral zone where the offshore Khafji field and onshore Wafra…
JEDDAH: Mawani, the Saudi Ports Authority, has signed concession contracts with global port operator DP World and regional port operator the Red Sea Gateway Terminal (RSGT) to develop and operate container terminals and use Jeddah Islamic Port as a regional hub for transshipment. In its announcement on Monday at the signing ceremony held in Jeddah, Mawani…
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ROME: Chinese telecoms firm Huawei should be allowed a role in Italy’s future 5G network, the Italian industry minister said on Sunday after an influential parliamentary committee called on Rome to block the company. The US has lobbied Italy and other European allies to avoid using Huawei equipment in their next generation networks and to closely…
ROME: Chinese telecoms firm Huawei should be allowed a role in Italy’s future 5G network, the Italian industry minister said on Sunday after an influential parliamentary committee called on Rome to block the company. The US has lobbied Italy and other European allies to avoid using Huawei equipment in their next generation networks and to closely…
TOKYO: Japan’s annual core consumer inflation ticked up in November and a key price gauge hit a more than three-year high, suggesting that firms are gradually passing on rising labor and tax hike costs to shoppers. All the same, inflation remained distant from the Bank of Japan’s 2 percent target, underscoring the challenge the central bank…
LONDON: Royal Dutch Shell said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook. In a trading update ahead of full year results, Shell also lowered its oil products sales forecast, pointing…
NEW DELHI: Chinese automakers Great Wall Motor and Changan Automobile are accelerating plans to build cars in India after the initial success of rival SAIC Motor in one of the world’s biggest markets, three sources said. Great Wall, one of the biggest sellers of sports-utility vehicles (SUV) in China, expects to secure a production site in…
Chad is one of the world’s poorest countries, but in its capital, N’Djamena, rents rival those of New York or London at upwards of $2,000 a month for a two-bedroom flat in the city center. The dusty city on the edge of the Sahara was ranked the most expensive in Africa and 11th in…
Chad is one of the world’s poorest countries, but in its capital, N’Djamena, rents rival those of New York or London at upwards of $2,000 a month for a two-bedroom flat in the city center. The dusty city on the edge of the Sahara was ranked the most expensive in Africa and 11th in…
CAIRO: An Egyptian technology business is aiming to help regional enter- prises benefit from the use of artifi- cial intelligence (AI). AI is being relentlessly integrated into the fundamentals of business and everyday life, demonstrating exceptional potential for boosting the global economy. In the Middle East and North Africa (MENA) region, the new technology is…
ALTAMIRA: Edizangela Alves Barros believed that being forced to relocate to make way for a mammoth dam in Brazil’s Amazon would mean a brighter future for her family. Instead, their newly built settlement has more expensive electricity bills and intermittent public lighting — a cruel irony for a community just 40 kilometers from the world’s…
TOKYO: Japan’s government raised its economic growth forecast for the next fiscal year, helped by an expected boost from a $122 billion fiscal package that would help cushion the hit from weaker global demand.The economy is now expected to expand 1.4 percent in price-adjusted real terms in the fiscal year starting April 2020, according to…
